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Search Results 0 to 11 of about 12 (some duplicates have been removed)
donald's. it will be expanding the earned tax credit. it is the government's largest program targeted as low income americans. >> the earned income tax credit was first introduced by president ford and has been expanded by democrats and republicans alike because it provides an incentive to work. president reagan called it the country's best anti-poverty and jobs creation bill ever to come out of the u.s. congress, and it was a key part of president clinton's welfare to work program. the basic way the earned a tax credit worked is this an eligible worker will earn a tax credit for every dollar he or she makes. a formula determines how much a worker ultimately receives under the program's caps. that amount the worker receives is then applied to taxes. for example, if someone owed $700 in taxes and has a credit of $900 they would get a refund of $200. working families with children currently stand to benefit the most. they qualify for a credit if they earn under 38,000 to $51,000. generally a salary increase the credit lowers. a married couple with two children making $45,000 would be eligible for a credit of
. it lays out how and where your tax dollars get raised and spent. president obama would like more of those dollars to go towards road construction, job training and preschool education next year. he wants to expand a tax break for lower income workers, and he wants to take away a tax break currently enjoyed by high-ear high-earning hedge fund types who earn most of their income from fees they charge investors. that's all i'm going to tell you at the moment about what is in this budget. instead, i want to you focus on what is wrong with the entire budget process in washington. formerly presidents present a budget to congress. president obama is a month late, but that's the least of the problems. then congress develops it's own version of the budget, and they vote on it by april 15th, sending it back to the president to be signed into law by then. this has not happened in years. keep in mind appropriating money to pay for things is the one thing that constitution actually requires congress to do. everything else is optional. there is a problem, unlike good wine, a federal budget does not get
billion from federal tax and gasoline could run out of money because it's not enough to meet the roads and maintenance needs. congress needs to fund before september. but congress probably won't let it through. we say that because the president got nowhere when he tried something more ambitious in 2011, establishing a national infrastructure bank leveraging private investment to fund works across the county in transportation, water and energy. with an infrastructure bank they would solicit money from the private sector and guarantee loans, it's a joint public private model used by many, smacking of socialism to republicans in congress. america continues to suffer because of a lack of leadership on the issue. the concept of that national infrastructure bank is not new, but proposals to create one are gauging traction among lawmakers. we are spoke to the think tank focussed on public policy, asking why is it a good idea to turn the idea into reality. >> we have invested for too long in infrastructure, and as a result we see tension between the need to expand the system to meet increased
, bridges and trans take sit telephone the highway trust fund gets $35 billion a year from a federal tax in gasoline could run out of money in august because that's not enough to meet all the road and 90 minutes needs, to a avoid that, congress needs to authorize new funding before september. about you the president's four-career fran take proposal is more ambition herb which means it probably won't get through congress think we say that because the president got nowhere when he tried something even more ambushing us in 2011 establishing a bank that leverages private funds for transportation, water and energy. with an infrastructure bank the federal government would identify big projects in the public interest visit mon from the private sector and guarantee the loan it's a joint public private model used by many countries around the world but smacks too much of the socialism to many republicans in congress. in the meantime american continues to sufferer because i've lack of leadership on this issue you. a concept of a national infrastructure bank isn't new but pro* proposals to create on
was running trillion dollar plus during the recession, but with the government started taking in more tax revenue and the deficit is the difference between what the government takes in and what it spends. many people confuse it with the debt which is what the government borrows to cover the deficit. an economic stock could be right around the corner. more on that coming up. and forget the fish that saved pittsburgh. we're going to tell you about the hockey arena that could save detroit. that and more as "real money" continues. >> the strength of the u.s. economy but the over all picture remains cloudy in part because of the weather. the biggest news was the revision to gross domestic product for the final three months of 2013. we'll learn more about that in a moment. but first, the contracts to buy homes edged up but less than economists expected, and is near a two-year low. as we reported the housing market has been hurt by this year's severe winter. we also learned that consumer sentiment rose slightly in february despite frigid temperatures and weak job growth in december and january.
which gets $35 billion a year from federal taxes on gasoline could one out of money in august because it's not enough to meet all the road and maintenance needs. for that congress needs to authorize new funding before september but the president's proposal is a lot more ambitious than that, which means its chances of getting through congress are, i think, zero. i say that because the president got nowhere when he tried something more ambitious in 2011. establishing a national infrastructure bank that leverages private investment to fund massive public works across the country in transportation, water and energy. with an infrastructure bank, this has been used in other parts of the world, the federal government would identify big projects, solicit money from the private sector and guarantee the loans required to execute those projects. it's a joint public-private model used by many countries around the world, but smack too much of socialism to many people in congress. in the meantime, america continues to suffer because of lack of leadership on this issue. this idea of creating internatio
taxes don't go to the city of philadelphia. >> sure, that's certainly part of the issue. i mean, one of the things that was fascinating to us when we did this analysis and compared philadelphia to other cities, a nap shot of 2010 we found that the size of the middle class in philadelphia was not that different than a lot of other cities. what was different was the size of the upper income group. in philadelphia was not 9% to 10%. in washington, boston, new york, it's 15%, 16%, 17%. that's a big difference. as you say in those cities some of those people, a lot of those people are actually living within the city limits, that's less true in philadelphia. >> are there obvious ones in places for philadelphia. >> the solutions may be obvious, but they're certainly not easy. you know, in our report we talked about three kinds of solutions. one is to cater specifically to the middle class, to people who are here now are middle class and the middle class people who might want to come. you do that through tax breaks and providing educational options. you do that with lifestyle amenities. th
Search Results 0 to 11 of about 12 (some duplicates have been removed)

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